Real estate is gaining steam Detroit's swankiest 'hoods, which had the Free Press excited enough to publish two articles on the topic yesterday. According to the Freep, median sales prices in Palmer Woods and Indian Village are climbing steadily upwards. Searching for "large and fancy" houses, ex-suburbanites are snapping up availabilities at their asking prices. Here's how things look:
· The median sales price for Indian Village jumped from $149,000 in 2009 to $230,000 in 2013.
· In Palmer Woods: $186,000 in 2009 to $301,000 in 2013. Sherwood Forest is also seeing gains.
· Boston-Edison isn't so lucky. Trulia pegs its 2014 median sales price at $89,900.
While the mansions may be value-priced, they still come with stereotypical high-end neighborhood funtivities. "Neighbors participate in regular potluck dinners, cocktail club parties, holiday get-togethers and, until recently when the children grew up, a youth baseball team," reports the Freep. Does that last part sound eerily cultish to anyone else?
· Home sales up in Detroit's Indian Village, other historic mansion areas [Freep]
· Detroit's historic neighborhoods provide their own fun [Freep]